Triangle Business Today

More than a year's worth of houses on the market

Posted September 15, 2010 7:31 p.m. EDT

A new report out Wednesday from the National Association of Realtors shows that we’re currently sitting on a 12 1/2 month supply of existing homes nationally. This number is concerning in that it’s almost double what used to be considered a healthy normal inventory level of approximately 5-6 months, and the fact that many markets are now seeing sellers reducing prices well below traditional market valuations is bringing about a valid cause for concern in housing.

About this Blog:

Jeremy Salemson, CEO of Corporate Investors Mortgage Group, blogs about economic trends and data and their impact on Triangle business. Each week, he interviews a Triangle-area business leader for a personal look at the local economy.